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Sports Car Insurance: Coverage & Costs (2022)

There’s no doubt that driving a sports car can be exhilarating, but insuring a powerful, high-end vehicle can be expensive. Insurance companies view sports cars as higher-risk vehicles due to the unsafe driving behaviors they tend to inspire. Sports cars also mean higher repair costs because high-performance parts are more expensive to replace.

We at the Guides Auto Team have researched and ranked the best car insurance companies to help you find the best match for your sports car coverage needs. In this article, we’ll highlight these providers and share tips for cutting down on your car insurance policy costs.

Which Vehicles Qualify as Sports Cars?

In general, car insurance companies consider vehicles that have high horsepower, two seats and a smaller size than a standard sedan to be sports cars. Some companies might classify certain models differently, but cars with these basic attributes tend to fall into the sports car category. If you’re not sure if your vehicle is considered a sports car, it’s best to ask your insurance company for clarification.

There are several tiers of sports cars. Certain models from Toyota, Honda, Subaru and other popular manufacturers might be considered low-end sports cars for insurance purposes. Well-known models such as the Chevrolet Camaro, Chevrolet Corvette, Ford Mustang and Dodge Challenger can be thought of as mid-level sports cars. Despite their classification as sports cars, these vehicles don’t typically need any additional coverage beyond standard requirements.

For high-end sports cars, insurance needs are a bit different. High-performance cars from makers such as Ferrari, Lamborghini, Porsche and others often require a different type of coverage than standard carriers can provide. You may want to buy car insurance through a premium carrier that specializes in high-end vehicles to protect your investment.

What Sports Car Insurance Coverage Do You Need?

Almost every state requires bodily injury and property damage liability insurance to cover other parties’ costs in accidents you cause. If you finance your sports car, your lender will likely require you to carry collision and comprehensive coverage as well. Collision insurance pays for vehicle repairs from an accident no matter who is at fault. Comprehensive coverage protects your vehicle from non-accident damage, including environmental damage, vandalism and theft.

You’ll want to consider personal injury protection and gap coverage for your sports car insurance as well. Personal injury coverage helps with medical expenses for you and passengers no matter who is at fault for an accident. Gap insurance pays for the cost of a replacement vehicle in the event of a covered total loss.

Uninsured motorist insurance is another coverage type you should consider as the owner of a used or new sports car. This protects you if you’re in an accident with a driver who has no insurance or inadequate coverage.

How Much Does Sports Car Insurance Cost?

If you drive a sports car or coupe, you can expect to pay more than the national average of $1,730 per year or $144 per month for a full coverage auto insurance policy. What you pay depends on a wide range of factors, including the following:

  • Vehicle model: The specific type of sports car you drive plays a major role in setting car insurance rates. Most sports cars (especially high-end models) have significantly higher intrinsic value than standard sedans, so you can expect higher premiums.
  • Location: States with higher population densities and more traffic usually have higher auto insurance rates.
  • Age: Younger drivers pay higher car insurance rates in general, but this is even more pronounced when it comes to sports cars. Inexperienced drivers present risk driving any car, and this risk is heightened when they’re behind the wheel of a powerful vehicle built for speed.
  • Marital status: Married drivers typically pay less for car insurance.
  • Driving history: You’ll pay more for car insurance if you have a clean driving record without any at-fault accidents, moving violations or a driving under the influence (DUI) conviction.
  • Credit history: Most states factor your credit score into your car insurance premiums. A lower score will lead to higher coverage rates.
  • Gender: The gender listed on your license will affect the cost of your insurance policy, as men typically pay more than women.

Graphic showing different factors that affect car insurance rates. The best way to get the cheapest insurance, no matter what type of car you drive, is to compare car insurance quotes from multiple providers. Most companies make it easy to get free quotes online with just a few details about your vehicle, driving habits and demographics.

Tips for Saving on Sports Car Insurance Costs

There are a few ways you can cut down on sports car insurance costs. Here are a few tips for getting the cheapest car insurance:

  • Search for discounts: Available discounts vary by provider, but you can often unlock savings for having multiple policies, covering multiple vehicles, being a good student, signing up for autopay and completing defensive driving courses. Be sure to check with an insurance agent to see which discounts you qualify for.
  • Drive safely: Those with clean driving records pay the lowest rates for coverage. Avoid accidents and speeding violations or sign up for a usage-based safe driving program that reports your good habits to your insurance provider. Both can improve your chances at getting lower rates.
  • Install anti-theft devices: A good way to save on insurance no matter what type of car you drive, safety devices are even more valuable for sports cars. It’s worth asking your insurance provider about special discounts for specific anti-theft measures.

Our Top-Rated Car Insurance Companies

In our review of the auto insurance industry, State Farm, USAA and Geico stood out for their coverage options, affordability and customer service.

*Ratings are determined by our editorial review team. Learn more about our scoring methodology below.

#1 State Farm: Editor’s Choice

The most popular auto insurer in the U.S., State Farm also offers some of the most affordable rates in the industry. State Farm’s Drive Safe & Save™ app allows drivers to unlock discounts of up to 30% for maintaining safe driving habits. The company also offers discounts for added safety features, good students and completion of defensive driving courses.

State Farm boasts an A++ rating for financial strength from AM Best. The company also holds an A+ rating from the Better Business Bureau (BBB).

Keep reading: State Farm insurance review

#2 USAA: Low Rates for Military

USAA offers consistently low insurance rates for all types of drivers and vehicles. However, its plans are only available to active members of the military, veterans and their immediate families. USAA is known for excellent customer service and offers a wide range of coverage options. SafePilot® is the company’s usage-based program, which is available in 37 states and rewards safe driving habits.

USAA receives an A++ from AM Best for financial strength. With its positive industry reputation and quality coverage, it’s a smart choice for those who qualify. 

Keep reading: USAA insurance review

#3 Geico: Affordable for Most Drivers

Geico is another popular insurance provider that offers a variety of coverage options, plentiful discounts and affordable rates. The company’s DriveEasy® program is available in 28 states and can reduce insurance costs through safe driving habits. Geico offers discounts of up to 26% off for good drivers and similar discounts for customers with multiple covered vehicles.

Geico holds an A++ financial strength rating from AM Best and an A+ rating from BBB. 

Keep reading: Geico insurance review

Sports Car Insurance: Conclusion

Although sports cars can be more expensive to insure, shopping around for providers can help you unlock the cheapest sports car coverage rates. Our team recommends reaching out to multiple companies for car insurance quotes to compare your cost and coverage options.

Sports Car Insurance: FAQ

Our Methodology

Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the insurers that scored the most points topping the list.

Here are the factors our ratings take into account:

  • Cost (30% of total score): Auto insurance rate estimates generated by Quadrant Information Services and discount opportunities were both taken into consideration.
  • Coverage (30% of total score): Companies that offer a variety of choices for insurance coverage are more likely to meet consumer needs.
  • Reputation (15% of total score): Our research team considered market share, ratings from industry experts and years in business when giving this score.
  • Availability (10% of total score): Auto insurance companies with greater state availability and few eligibility requirements scored highest in this category.
  • Customer Experience (15% of total score): This score is based on volume of complaints reported by the NAIC and customer satisfaction ratings reported by J.D. Power. We also considered the responsiveness, friendliness and helpfulness of each insurance company’s customer service team based on our own shopper analysis.


*Data accurate at time of publication.


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